Anyone with ambition and an internet connection can stick their foot into the waters of trading for a living. [Read more…]
Avoid these mistakes when planning for your retirement
When was the last time you gave a thought to your retirement? It seems so far away, there’s very little point worrying about it, right? Wrong! Failing to take your retirement planning seriously could lead to serious financial problems further down the line. [Read more…]
How Technology Can Improve Your Business
Technology is advancing every day, changing how we live, work and play. Understanding how to use new tech systems to improve your company and optimize growth helps you stay competitive in your industry.
As a business owner, you are continually adapting to new trends, marketing techniques and workflow models within your industry. Keeping up with technology can increase your productivity, revenue and growth.
There are many high-tech systems you can access easily to optimize your productivity, revenue and development.
Social Media
Social sites provide opportunities to interact with customers instantly and understand them better than ever before. You benefit by having a direct line of communication with your clients to convey intent and receive feedback. These platforms allow you to connect with more potential clients beyond the scope of your local area.
Business accounts’ analytics features provide insights into your followers’ behaviors, helping you anticipate and meet their unique wishes. These sites also allow you to establish brand recognition, credibility and authority in a more direct way than previously possible. Customers appreciate the personal connection to your company.
Marketing
Digital marketing techniques today offer detailed targeting capabilities that enable you to present your product or service directly to those most likely to want or need them. Unlike print advertising, you can access analytics and insights for digital campaigns immediately to test, modify and improve your efforts as necessary. This continual refinement ultimately yields a higher return on your marketing investment.
Online advertising is also easily accessible and affordable for small operations, providing opportunities to compete with larger, more established organizations.
Communications
In today’s world, you have a multitude of avenues to interact with clients and co-workers. Thanks to technology, communication methods are fast, effective, reliable and affordable. Companies have access to a broader range of associates and customers than previously possible.
Utilizing a virtual phone system allows organizations to track, manage and respond to calls effectively while minimizing the time required. You can connect your company line to a cellphone while still maintaining privacy, so you do not have to be in the office all the time. Automated responses reduce customer wait times and increase satisfaction. This kind of digital assistant technology improves your customer service and work productivity.
Productivity
Various project management tools are available for your operational needs. These productivity apps enable you to streamline interoffice communications, plans and tasks, increasing employee accountability and efficiency. Finding applications that work best for your company saves you time and effort and makes it easier for your team to stay on track to achieve goals. Programs like Asana, Slack and Trello essentially provide a project manager at your fingertips.
Customer Relationship Management
CRM tools allow you to track customer data, giving you vital information regarding how your business attracts and loses clients. These insights enable you to focus directly on your customers’ wants and needs in a proactive way. You can modify communications to match individual behavior or adjust lead generation techniques as patterns emerge.
Cloud-Based Accounting
Digital accounting software like QuickBooks or Xero allows you to keep track of your finances in an organized, efficient manner. This type of software is accessible from any device, providing the ability to stay on top of income and expenses no matter where you are.
These programs have excellent security features that keep your data safe. They are easy to use and customizable for your company. Accounting systems eliminate the wait time, too. Your financial information is always up-to-date, enabling you to make informed decisions daily to maintain your organization’s success.
Automated Tasks
Using systems to automate repetitive tasks create a more efficient, more productive team. There is less margin for error with these programs, increasing both revenue and customer satisfaction. Automation also reduces expenses and frees up your time so you can focus on larger goals.
Analytics
There are many data analysis tools available for your business needs. These systems have powerful processing capabilities to give you timely and accurate information. Understanding variables like which pages on your website have the most visitors, how people find your business and what makes them act gives you the vital statistics necessary to revise and improve your growth strategies.
Technology can organize, analyze and build your business. New advances provide affordable and accessible systems for your continued success.
For more great FineTunedFinances articles, read these:
How To Find Your Student Loan Account Number
Is Home Based Self Employment In Your Future?
Yes, You Can Return Gift Cards For Cash
Image source, Ferderer.cale, via Flickr.
Bitcoin Trading vs. Investing, Let Know More About It
Bitcoin trade has become very popular in the past few years, everybody wants to dive into it, but for some reason, so we want to let those people know that you can invest freely in it. With the increasing population of the world, bitcoin trade has become a better option through employment. But there are still people who are afraid of getting involved in bitcoin, so they can’t spend much on machines and mining. [Read more…]
To Invest in Options, Understand Gamma First
A stock option is the right to buy a certain number of stock shares at an exercise or strike price. It’s usually available for a certain amount of time, and then it expires. To invest in a stock option successfully, you need to understand its gamma. Here’s some more information about how stock options work and how to use gamma hedging.
How Stock Options Work
Image via Flickr by free pictures of money
By buying a stock option, you’ll get the ability to see how the stock performs before you decide whether or not to buy. Since an option is much less costly than a stock, you can protect yourself from many of the risks of investing. You can use American-style stock options at any time between the purchase and the expiration date, but you can only use European options on the expiration date. A put option is a bet that a stock price will fall, and a call option is a bet that it will rise.
Gamma
To understand gamma hedging, you first need to learn about delta. Delta describes the relationship between a change in option value and a change in stock value. Gamma is delta’s rate of change, and gamma is highest when the stock price is close to the option’s strike price. These gamma options tend to be close to expiration. An option with a stock that’s far above or below the strike price will have a gamma close to zero.
How Delta and Gamma Hedging Works
Delta and gamma hedging can reduce your risks when investing in stock options. Delta hedging often involves buying call options and then shorting a certain number of shares. This means you would sell them before they reach the strike price.
With gamma hedging, traders also invest in a put option with a different strike price. This means that they can use the options if the stock price decreases instead of increasing. That way, they can avoid bigger losses and changes in delta. As stock prices fluctuate, people buy and sell shares to keep the gamma and delta of the investment stable.
For example, a call option that comes with a strike price of $100 has a 50% or .5 delta and a 10 gamma. You would delta hedge 100 call options by selling 50 of them. If the stock price falls to $99, the option price will change by around 10 cents and the delta will change to 40% or .4, making the original delta hedge too large. You can adjust your portfolio by buying back 10 shares. This lets you save $1 per share or $10.
Understanding gamma options and how they work is important for anyone who wants to invest in stock options. Gamma helps you avoid risks and increase the success rates of your investments. Looking at delta and gamma also helps you choose the best stocks for your investment goals.
The Process of Avoiding Overtrading
If traders trade frequently, they are overtrading. This is mainly done because of a traders’ obsession with trading. Successful businessmen have the patience to resist the greed for making large profits by taking high risks. The overtrading tendency can finish your capital within a day. But, in the Forex market, the businessmen’s first duty is to secure their capital. If you are trading more than one trade in at a time, then you have a bad habit. There are some strategies for stopping yourself from falling into this tendency. They are discussed here. [Read more…]
How Does Employee Misclassification Affect Wages?
The deceptive and fraudulent practice of employee misclassification robs employees of hard-earned wages and benefits. [Read more…]
How you know when it’s time to hire an HR manager
As a business owner, you are always thinking about the future and what your next move is going to be. It might be hard to know when it’s time to take the plunge on different things, especially when it comes to big things such as hiring new members of staff. Here are some ways you will know that it’s time to hire an HR manager. [Read more…]
Benefits of Saving in Coins When Betting Sports
If you are using cryptocurrency to wager on sports, there are certainly benefits in terms of saving your money in these coins. While most of the general public does view it as a risky investment, for those of us betting on sports, we’re in this thing for the long haul anyway which makes cryptocurrency a great investment for us. [Read more…]